China’s foreign trade has shown robust growth in the first ten months of this year, reaching a total of 36.02 trillion yuan (approximately $5 trillion), according to the latest data released by the General Administration of Customs on Thursday. This marks a steady year-on-year increase of 5.2 percent.
Exports climbed to 20.80 trillion yuan, representing a 6.7 percent rise, while imports increased by 3.2 percent to 15.22 trillion yuan. The positive trade figures reflect the resilience of China’s economy amid global economic uncertainties.
Trade with countries participating in the Belt and Road Initiative (BRI) saw significant growth, totaling 16.94 trillion yuan—a 6.2 percent increase compared to the same period last year. Notably, trade with the Association of Southeast Asian Nations (ASEAN) countries reached 5.67 trillion yuan, an impressive 8.8 percent rise, accounting for 15.7 percent of China’s total foreign trade. This solidifies ASEAN’s position as the Chinese mainland’s largest trading partner.
The sustained growth in foreign trade underscores China’s deepening economic ties with its regional partners and its ongoing commitment to global trade cooperation. The increasing trade volumes with BRI partner countries and ASEAN members highlight the expanding economic integration in the region.
Reference(s):
cgtn.com
